Sciencast Management LP Purchases 56,244 Shares of CNX Resources Corporation. $CNX

Key Points

• Sciencast Management LP increased its holdings in CNX Resources by 815.8%, purchasing 56,244 shares to own a total of 63,138 shares worth approximately $1,988,000.
• Institutional investors collectively own 95.16% of CNX Resources, with multiple funds modifying their stake in the company during the first quarter.
• Analyst ratings for CNX Resources show a consensus rating of "Reduce", with target prices ranging from $24.00 to $36.00 based on recent reports.

Sciencast Management LP raised its stake in shares of CNX Resources Corporation. (NYSE:CNX - Free Report) by 815.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,138 shares of the oil and gas producer's stock after acquiring an additional 56,244 shares during the quarter. Sciencast Management LP's holdings in CNX Resources were worth $1,988,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of Alaska Department of Revenue lifted its holdings in shares of CNX Resources by 2.4% during the first quarter. State of Alaska Department of Revenue now owns 17,437 shares of the oil and gas producer's stock valued at $548,000 after acquiring an additional 415 shares during the period. Fox Run Management L.L.C. lifted its holdings in shares of CNX Resources by 2.7% during the first quarter. Fox Run Management L.L.C. now owns 16,317 shares of the oil and gas producer's stock valued at $514,000 after acquiring an additional 432 shares during the period. Pullen Investment Management LLC lifted its holdings in shares of CNX Resources by 1.5% during the first quarter. Pullen Investment Management LLC now owns 32,633 shares of the oil and gas producer's stock valued at $1,027,000 after acquiring an additional 482 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of CNX Resources by 21.0% during the first quarter. Farther Finance Advisors LLC now owns 2,931 shares of the oil and gas producer's stock valued at $93,000 after acquiring an additional 508 shares during the period. Finally, SummerHaven Investment Management LLC lifted its holdings in shares of CNX Resources by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 30,284 shares of the oil and gas producer's stock valued at $953,000 after acquiring an additional 525 shares during the period. 95.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Piper Sandler cut their price objective on CNX Resources from $26.00 to $24.00 and set an "underweight" rating for the company in a report on Thursday, August 14th. Scotiabank reaffirmed a "sector perform" rating and issued a $35.00 price target (up from $33.00) on shares of CNX Resources in a report on Friday, July 11th. Barclays began coverage on shares of CNX Resources in a research report on Monday, July 7th. They set an "equal weight" rating and a $33.00 price target on the stock. Finally, TD Cowen upgraded shares of CNX Resources to a "hold" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $31.77.

CNX Resources Price Performance

NYSE CNX traded up $0.07 on Friday, hitting $29.99. 1,303,247 shares of the company were exchanged, compared to its average volume of 1,389,955. The firm has a 50 day moving average of $30.40 and a two-hundred day moving average of $30.98. The company has a market cap of $4.24 billion, a P/E ratio of 50.83, a P/E/G ratio of 0.27 and a beta of 0.60. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.56. CNX Resources Corporation. has a 1-year low of $27.00 and a 1-year high of $41.93.

CNX Resources Profile

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.